Published on 6/26/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.35 million autocallable securities on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, June 26 – Citigroup Global Markets Holdings Inc. priced $1.35 million of 0% autocallable securities due June 24, 2025 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be called at par plus a premium of 9% annualized if each asset closes at or above its initial level on any quarterly call valuation date after one year.
If each index finishes above its initial level, the payout at maturity will be par plus 45%.
Otherwise, the payout at maturity will be par unless either underlying asset finishes below its 80% buffer level, in which case investors will lose 1% for every 1% that the worst performing index declines beyond the buffer.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying assets: | S&P 500 index, Russell 2000 index
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| Amount: | $1,354,000
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| Maturity: | June 24, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 45% if each index finishes above initial level; par if lesser-performing underlying asset falls by up to buffer level; otherwise, 1% loss for every 1% that lesser performing index declines beyond buffer
|
| Call: | At par plus a premium of 9% per year if each asset closes at or above its initial value on any quarterly call valuation date after one year
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| Initial levels: | 3,097.74 for S&P, 1,418.634 for Russell
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| Buffer levels: | 2,478.192 for S&P, 1,134.907 for Russell; 80% of initial values
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| Pricing date: | June 19
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| Settlement date: | June 24
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.55%
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| Cusip: | 17328VKG4
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